n addition to common-size financial statements, common-base yearfinancial statements are often used. Common-base year financialstatements are constructed by dividing the current year accountvalue by the base year account value. Thus, the result shows thegrowth rate in the account.

  

Construct the common-size balance sheet and common-base yearbalance sheet for the company. Use 2018 as the base year.(Do not round intermediate calculations. Enter yourcommon-size answers as a percent and your common base year answersas a times. Round your common size answers to 2 decimal places,e.g., 32.16 and common-base year answers to 4 decimal places, e.g.,32.1616.)

JARROW CORPORATION 2018 Common-size 2019 Common-size Common-base year Assets Current assets Cash $8,264 % $10,204 % Accounts receivable 20,953 % 23,437 % Inventory 37,322 % 42,297 % Total $66,539 % $75,938 % Fixed assets Net plant and equipment $215,870 % $243,840 % Total assets $282,409 % $319,778 % Liabilities and Owners’ Equity Current liabilities Accounts payable $41,398 % $46,384 % Notes payable 17,964 % 17,535 % Total $59,362 % $63,919 % Long-term debt $24,500 % $31,500 % Owners' equity Common stock and paid-in surplus $38,500 % $39,700 % Retained earnings 160,047 % 184,659 % Total $198,547 % $224,359 % Total liabilities andowners' equity $282,409 % $319,778 %